Yes, several factors could potentially impact the amount of money you can receive for your traffic accident claim. These factors vary by case, and we caution that this blog is a broad, general narrative of factors that may impact the value of an accident claim.
Our New Orleans accident attorneys offer free consultations to learn about the details of your traffic accident so we can provide detailed legal counsel about your rights and options for recovering compensation for your damages.
Financial or Out-of-Pocket Costs
Your actual or financial damages directly impact the value of your case. We use the total of your medical expenses, lost wages, property damage, and other financial expenses to calculate a portion of the value of your claim. Therefore, the higher your medical costs or, the more money you lose in income, the higher the value of your claim may be.
However, calculating this portion of your claim is not always as easy as adding invoices and lost income together to arrive at a figure. If you suffer permanent disability, you might be entitled to compensation for future damages. A financial expert or economist may be used to calculate the lost wages and the medical costs over your lifetime because of your injury.
Noneconomic Damages
Noneconomic damages or “pain and suffering” are subjective because each person suffers differently. There is not a “bill” or “invoice” we can look to as we calculate your pain and suffering damages. This category of damages includes compensation for your physical pain, scarring, mental anguish, disfigurement, disability, emotional stress, and loss of enjoyment of life. How do we place a dollar value on these losses?
Several factors are considered when calculating the value of noneconomic damages including:
- The type of injuries sustained and whether those injuries resulted in a permanent disability, condition, or illness;
- The severity of your injuries;
- The amount of time it will take for you to recover from your injuries;
- The impact your injuries have on your daily routine and life; and,
- The impact of the injuries on your relationship with family and friends.
As experienced New Orleans accident lawyers, we understand how to use the available evidence to maximize the amount of compensation you can receive for pain and suffering damages.
Liability for the Accident
If you have any liability or fault for the traffic accident, this could impact the value of your claim. Under Louisiana’s comparative fault laws, your compensation is reduced by any percentage of fault assigned to you for the crash.
Each person who contributed to the cause of the crash is assigned a percentage of fault. Therefore, if you have no fault, your percentage is zero and your liability does not impact the value of the claim. However, if it is determining you contributed to the cause of the crash by 20 percent, the amount of compensation you can receive for your claim will be reduced by 20 percent.
It is very important to work with an experienced New Orleans accident attorney who understands the importance of gathering evidence to prove you had no fault for the cause of the crash to protect the value of your accident claim.
Call Our Office for a Free Legal Consultation with a New Orleans Accident Attorney
Contact Attorney Fred Olinde of The Olinde Firm by calling (504) 587-1440 or 1-800-587-1889 to request your free case evaluation with a New Orleans accident attorney.